Naphtha margin eases in Asia

04-Jan-13
The Asian naphtha margin eased 3.1% to a low of US$129.78/ton on Thursday, weighed down by expectations of more European cargoes arriving next month as traders were drawn by strong Eastern premiums, as per Reuters. The anticipation of more supply has also offset earlier concerns over the lost of production in the Middle East and strong demand from Taiwan and South Korea. Asia's top naphtha buyer, Formosa Petrochemical Corp, is seeking cargoes for H1-February delivery. Traders estimated that it may buy 100,000-150,000 tons. About 150,000 tons of naphtha will be lost following the 20-day shutdown of the PetroRabigh refinery which started on Saturday due to a power cut. About 650,000 tons of Western naphtha are expected to land in Asia this month. February numbers are likely to be higher.
  More News  Post Your Comment
{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha
Lemo Side welds bag making machine

Lemo Side welds bag making machine